LESLIE FAY GETS COURT APPROVAL ON 60-DAY EXCLUSIVITY EXTENSION
NEW YORK — The Leslie Fay Cos. received bankruptcy court approval Thursday to extend its exclusivity period about 60 days to Feb. 17, 1995.
During this extension, the sixth Leslie Fay has received since filing for Chapter 11 in April 1993, the company said it plans to make serious progress in its reorganization.
Alan Miller, Weil, Gotshal & Manges, counsel to Leslie Fay, said the apparel maker will present a revised business plan to creditors on Dec. 14. A little more than a month later, on Jan. 16, 1995, Leslie Fay will give creditors plan of reorganization term sheets.
As reported, Leslie Fay said earlier this week that it is “considering a number of options” in order to try and satisfy creditors and strengthen its operations, including the sale of one or more of its divisions.
During exclusivity, only Leslie Fay can file a plan of reorganization.